COPY
THE BRITISH & CHINESE CORPORATION LIMITED.
60
SHANGHAI.
3rd December 1934.
His Excellency
The Hon. Sir Alexander Cadogan,K.C.M.G.,C.B.,M.V.O.,
etc., etc., etc.,
His Majesty's Minister,
Peiping.
Sir,
CANTON KOWLOON RAILWAY LOAN OF 1907
•
With reference to my letter of the 2nd June last, I
regret to report a further default in payment of the half-yearly
interest and annual instalment of principal, with Bank's Commission,
which became due on the 17th November last for payment to the Bond-
holders on the 1st instant.
I beg to enclose for Your Excellency'a information copy
of my letter of the 31st October last to the Minister of Railways,
with accompanying statement, from which it will be seen that the
total default in payment of the service of this Loan now amounts to
the serious figure of £1,386,419.17.4. I also attach translation of
the Ministry's reply of the 13th November last which still affords
no satisfaction.
I have the honour to request Your Excellency to be good
enough to bring this further default, and the magnitude of the
arrears, to the serious attention of the Chinese Government who
have unconditionally undertaken and promised in terms of Article
14 of the Loan agreement to pay the principal and interest of the
Loan on the due dates.
/ It
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